The European Union is preparing for a scenario in which Brexit talks collapse.
EU chief Brexit negotiator Michel Barnier said that negotiations failing is a “possibility.”
Barnier insisted that the UK must increase its financial offer in order for talks to progress.
LONDON — The European Union is preparing for the collapse of Brexit talks and is making contingency plans, the EU’s chief negotiator has said.
Michel Barnier told French newspaper Journal du Dimanche that the failure of negotiations is a “possibility” but is not what he wants the outcome to be.
He said: “It’s a possibility. Everyone needs to plan for it, member states and businesses alike. We too are making technical preparations for it. On 29 March 2019, the United Kingdom will become a third country.”
Barnier told Britain last Friday that it has just two weeks to make its position clear on the Brexit divorce bill or face the possibility of a transition deal with the EU being blocked.
The chief negotiator said: “We want to reach an agreement [with the UK] within the next 14 working days. Today, we are not there. The rendezvous will be postponed if progress is not sufficient.”
EU leaders will meet at a summit in December to …read more
Source:: Businessinsider – Politics